Hello!
I am in a great training out in Sun River Oregon. WOW. It feels great to be around some of the finest professionals in the country including some of my old cohorts from Wells Fargo like Jay Morton and Laura Lasher along with the excellent management team of Metlife here in the northwest.
Couple of quick notes on the market for the last few days:
Consumer Price Index came in a little higher than expected yesterday indicating slight inflation...but when the energy costs were stripped from that report we were about dead even with last month.
The Crude inventories report showed less supply in the US so moneys may move into that commodity as they have been into GOLD and other investments that tend to be friendly when the dollar is weakening as it has been.
TODAY we see the initial Unemployment claims coming in at a little bit lower than expected with 545,000 people filing their initial claim for unemployment.
This week we heard comments from Warren Buffet and Ben Bernanke who both are theorizing the worst is over in the markets and hopefully we continue to stabilize and at least see less volatility going into this fall. Who really knows though...sometimes it is interesting to go back 18-24 months and see what "analysts" were predicting before the real storm hit the markets.
FNMA 4.5% closed at $100.41 yesterday and we are currently down about 3bps this morning. The rates on the 30 year fixed are still in that 5% range.
Have a great day!
Chad
